About horizen
Horizen Coin Review: Mining Guide, Price & Analysis of Horizen Cryptocurrency
Horizen is one of the altcoins in the market that offers unique services to users. There are multiple coins in the market, and each of them believes it is bringing something new to the table. Cryptocurrency embraces revolutionary blockchain technology.
The currency is abbreviated as ZEN. Horizen blockchain focuses on privacy. The platform utilizes the Zero-Knowledge Proofs to attain its advanced privacy. The developers wanted to achieve several features when they designed Horizen.
They have a private messenger known as ZenChat. A domain like TOR is known as ZenHide. Nonetheless, the platform is also a decentralized autonomous venture. Additionally, they have an anonymous publishing website (ZenPub).
History of Horizen
Horizen coin was formerly known as Zencash. In 2018 the platform rebranded and changed its name. The developer team took this opportunity to rebrand and improve on the features. Horizen coin is a fork of a digital fork currency.
The currency is a fork of Zclassic, which was also forked from Zcash. It utilizes ZK-snark technology to attain its security. However, when users mention the privacy and security of cryptocurrency, the naysayers assume it covers criminal activities.
However, in the modern world, there is a high need for security for personal information. Data breaching is something that happens daily. Identity theft is a major problem facing countries like the USA.
The majority of the platforms that we trust with our data store information on centralized servers. Therefore, they can easily be attacked by hackers exposing us to risks. This is where Horizen comes into place. The platform wants to offer privacy to enterprises and applications.
Horizen is built on Blockchain technology. It means that the platform is decentralized, and the possibility of being hacked is close to impossible. Therefore, the entity is offering security to its users.
How Does Horizen Work?
The platform did not have an ICO this is because it was forked from ZClassic. There are 21 million Horizen coins in the market. ZEN is among the top 100 cryptocurrencies in the market cap. The price of the token increased in mid-2019.
Horizen is a promising currency that is worth buying. The platform has grown and developed since the time it made its first digital footprint. The company aims to provide a fair and secure platform. Horizen coin allows a business to build its own private and public blockchain.
The entity Sidechain SDK has all the necessary features that will assist companies in customizing the blockchain. They have managed to provide an autonomous decentralized system. Horizen is dedicated to offering the best services to its community.
The platform wants to create a sustainable venture. They also have a lot to accomplish, and the entity has attained huge milestones. The governance model of Horizen ensures everyone benefits.
Features of Horizen Coin
The platform is secure and uses zk-SNARK technology. Horizen is dedicated to providing maximum security and privacy for its clients. The identity of their users is their top priority. Additionally, they use a decentralized multitier node architecture.
Moreover, ZEN is the first digital currency in the market that offers full end-to-end encryption. Hence, internode communication is well protected. Horizen has great resilience, and it is developed on the largest and most popular node network.
ZEN currency is a digital currency that has end-to-end encryption at the internode and node levels. The coin can be mined, and it is Equihash-based. The platform has two different addresses. The T-Addresses are transparent and public and make transactions similar to those of BTC.
On the other hand, the Z addresses complete transactions anonymously and privately. They are also known as shielded addresses. The platform has 40,679 active nodes on its network. Additionally, this helps in making Horizen a resilient and secure platform.
ZenNodes
The platform rewards its nodes for their work. You do not need technical skills to operate the ZenNode. You can utilize the process to earn an extra income. To become a member, you must have at least 42 up to 500 ZEN. It is also important that you store your Horizen coin in a Sphere wallet. The final step is to host your ZenNodes. Moreover, the payment for the node is disturbed weekly.
Sidechain
Horizen has a revolutionary scaling solution and a sidechain known as Zendoo. It is the first customized and fully decentralized sidechain in the industry. Furthermore, it allows developers to create decentralized applications on the Horizen secure, distributed, and private platform.
Sidechains help in resolving the scalability problem. Zendoo is a unique sidechain that is decentralized. It does not depend on trusted parties in the market. It uses blockchain technology to resolve the issues facing the real-time market.
Every sidechain requires the implementation of a wallet, consensus, history, network layers, and other critical pieces. The majority of the sidechains can be made from the same implementation apart from the data and specific logic.
Zendoo has an SDK that checks most of the essential features to create a blockchain in a single toolbox. Therefore, developers only need to focus on essential tasks. They don’t need to waste time in low-level jobs. Hence, they can complete a task faster and easier.
The Team and Community of Horizen
Rob Viglione is the founder of Horizen. He has an adequate background in cryptocurrency and finance. Rob formerly worked at Zclassic, Bitshares, Bitrate, BlockPay, and Seasteading. He also has a background in mathematics and physics.
The team behind ZEN is experienced in the finance sector, blockchain technology, business, and cryptography. The Horizen project aims to ensure its users enjoy privacy and maximum privacy. Viglion has an MBA in Finance and Marketing.
Additionally, he advocates for freedom, peace, and respect for human life. The co-founder of ZEN is Rolf Verslius, who is an executive advisor of the platform. Additionally, Rolf was an engineer at the submarine and nuclear propulsion plants.
Horizen has a great history since its existence as ZenCash. There is a strong community that is behind the platform as well. They have multiple followers on social media platforms. Horizen coin is dedicated and updates its community with valuable content.
Can ZEN be Mined?
The platform is availed mining to its users. Horizen rewards its miners using ZEN. It uses PoW Miners are the ones that are responsible for collecting and verifying the transaction. They then place the information on the block.
Horizen rewards miners with 12.5 ZEN, but in reality, you will receive 7.5 ZEN. This is because 10% is distributed to a Super Node and Secure Node. Moreover, 20% also goes to the Horizen Treasure. The miners are the ones who verify if the sender has sufficient money.
Advantages
- Privacy
- Anonymous
- Transparent
- Decentralized
Disadvantages
How to Buy
You can acquire ZEN by purchasing it in popular exchanges in the market. Some of these exchanges include; HitBTC, Bittrex, Binance, DragonEX, Poloniex, Huobi Global, and TOKOK. After purchasing the ZEN currency, we advise investors to store it in a trustworthy wallet.
Horizen has a wallet known as the Sphere wallet. Apart from these alternatives, users can use paper, mobile, hardware, or desktop wallets. You can use Ledger Nano or Ledger X wallet.
Final Verdict
Horizen Coin is a cryptocurrency that is focused on privacy. The currency is doing well, and investors can purchase. The platform has a reputable and experienced team behind it that boasts its trust score. Furthermore, the developers of ZEN have proven to be dedicated to providing a reliable system.
Horizen
(zen)
